Rémy Cointreau hails ‘impressive’ third quarter

19th January, 2017 by Kristiane Sherry

French drinks group Rémy Cointreau has posted sales of €836.7 million for the first nine months of its 2016/17 financial year, bolstered by 9% growth in the third quarter, a “strong” US and a “recovering” China.

Rémy Martin maker Rémy Cointreau has released its 2016/17 Q3 results

Excluding exchange rates at the impact of acquisitions, nine-month sales were up 6% on 2015/16, driven by a 7.6% uptick in the performance of Group Brands.

The group also cited “some improvements” in travel retail, the Americas and Asia Pacific for the strong results, however noting a “contrasted” performance in Europe, the Middle East and Africa.

“Strong momentum” in the Americas, and a private consumption “step-up” in China and travel retail prompted the sales increase, said Rémy Cointreau. In addition, the company attributed the results to increased investment in high-end SKUs, including the Louis XIII Le Mathusalem launch, the L’Odyssée d’un Roi project, and the opening of a LOUIS XIII store in Beijing.

Greek spirit Metaxa benefited from the return of growth in Russia, CIS markets and Greece, while continuing “strong momentum” in Europe.

Mount Gay rum had a “good” third quarter in the US, Barbados and the UK, while St- Rémy posted “slight” declines due to a reduction in low-end volumes.

The Islay Spirits quartet of Bruichladdich, Port Charlotte and Octomore single malts and The Botanist Gin continued its run of double digit gains thanks to “particularly strong” sales in key US, Europe and travel retail markets.

“At the end of the first nine months – fully in line with the Group’s forecasts – Rémy Cointreau is confirming its guidance of growth in current operating profit over the 2016/17 financial year, assuming constant exchange rates and consolidation scope,” the company said in its statement.